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Here’s why OKB price is going parabolic and what next
OKB price has made a strong recovery on Friday as investors react to the company’s marketing incentives. The coin jumped to a high of $17.30, which was the highest level since August 26. It has jumped by more than 23% from the lowest level this month, bringing its market cap to over $990 million.
What is OKB and why is it rising?
OKX is a leading exchange that has a strong market share around the world. The company handles over $2.5 billion in the spot market on a daily basis. It also handles over $21 billion in derivatives, making it the second-biggest player after Binance, which handles more than $61 billion.
OKB is the native token for the ecosystem. Like other centralized exchange tokens, OKB is used to reward holders and provide discounts to traders. As part of its value creation, OKX uses 30% of income from the com[[any to buy back OKB from the 300 million that are in circulation. At the same time, they burn tokens after every three months.
OKB price has rallied this week after the company announced a new campaign to popularize the exchange. The new campaign is known as ‘what is OK’ and will run in some of the best-known platforms globally. In line with this, the company will use Daniel Ricciardo, Pep Guardiola, and Scotty James.
The company hopes that the new campaign will make the brand more popular outside Asia, where it is not well known. In a statement, the Chief Marketing Officer (CMO) of the company said:
“It is now time to introduce OKX to the rest of the world. In the current climate, investors need an exchange that delivers a safe and responsible trading platform, while also offering them a very broad range of ways to pursue their own brand of financial liberty.”
In addition, OKX launched a new global content competition that will give YouTube and Twitter creators a chance to share $100k pool.
OKB price prediction
The four-hour chart shows that the OKB price made a spectacular comeback on Thursday. The token rose to a high of $17.33, which was the highest point in weeks. As it rose, the coin managed to cross the 25-day and 50-day moving averages while the MACD has moved above the neutral point.
The pair seems to be forming a bullish consolidation pattern. Therefore, there is a likelihood that the coin will keep rising as buyers target the next key resistance at $20.
The post Here’s why OKB price is going parabolic and what next appeared first on CoinJournal.
Bitcoin tops the $20k level once again after rallying by 7% on Friday
Bitcoin is trading above $20k again after spending most of the week trading below that psychological level.
The cryptocurrency market has underperformed for the best part of the week. However, it seems that the market will end the week in a positive fashion as most cryptocurrencies are trading in the green zone.
The total market cap rose above $1 trillion for the first time in more than a week, indicating bullishness within the market. This comes after the broader market added more than 5% to its value in the last 24 hours.
Bitcoin’s dominance level in the market dropped below 39% for the first time in more than two years. However, that hasn’t stopped the leading cryptocurrency from performing well over the last few days.
Bitcoin has added more than 7% to its value over the last 24 hours, surging past the $20k psychological level. This comes after BTC spent the best part of the week trading around $19k per coin.
Key levels to watch
The BTC/USD 4-hour chart has turned bullish as Bitcoin has been performing well over the past 24 hours. The technical indicators show that BTC has been performing better than the broader crypto market.
The MACD line crossed into positive territory a few hours ago, indicating that the bulls are regaining control of the market.
The 14-day relative strength index of 73 shows that Bitcoin could be entering the overbought region if the rally can be sustained.
At press time, BTC is trading at $20,757 per coin. If the positive momentum continues, BTC could move past the $21,476 resistance level of the day.
In the event of extended rally over the weekend, BTC could make a move for the $22,136 resistance level.
The bears might regain control of the market and drag Bitcoin below the $20k psychological level over the weekend.
The post Bitcoin tops the $20k level once again after rallying by 7% on Friday appeared first on CoinJournal.
Ether-Kurs könnte sich von anderen Kryptos „entkoppeln“: Chainalysis über die Auswirkungen des Merge
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